PORTLAND, Ore., 7 July 2007. Electro Scientific Industries Inc., a provider of photonic microengineering solutions, has agreed to acquire New Wave Research Inc. (NWR), headquartered in Fremont, Calif., for $36 million net cash.
NWR, a developer and manufacturer of high-end laser-based systems and components, is a market leader in sapphire wafer scribing and laser micromachining.
NWR is a global provider of laser-based applications with an extensive installed base and direct presence in the U.S., Europe, and Asia.
In the semiconductor market, NWR's products are used for sapphire wafer scribing, flat-panel display repair, and semiconductor failure analysis, among other applications.
NWR produces accurate laser-micromachining tools used for drilling, etching, and scribing a wide variety of materials.
The acquisition of NWR, which is subject to approval by its shareholders, is expected to close within 30 days.